Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Roasted Coffee Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
With a striking growth trajectory that sees the market size expanding from $37.42 billion in 2023 to an anticipated $40.23 billion in 2024, stakeholders are observing a Compound Annual Growth Rate (CAGR) of 7.5%. This significant increment reflects the increasing consumer inclination towards coffee and its burgeoning shop culture, unmistakably shaping the global landscape. In a detailed examination, the report predicts a propelled soaring to $52.11 billion by 2028 with a steady CAGR of 6.7%.
At the core of this expansion are factors such as the ascent of specialty coffee, the embracing of single-origin brews, and the integration of health and wellness considerations within coffee consumption habits.
Regional Spotlight and Market Influence
Europe stands at the helm as the largest region in the global market as of 2023, while forecasts spotlight Asia-Pacific as the fastest-growing contender during the anticipated period. The blend of changing consumer preferences and advancements in brewing and roasting technology are driving the market forward, with significant attention on clean label products. This consumer-driven desire for transparency and ethical sourcing is having a momentous impact on market progression.
Consumer Consumption and Health Trends Galvanize Market Growth
A surge in coffee consumption has been instrumental in the market's development. Indications from the National Coffee Association (NCA) reveal a 14% increase in coffee consumption in the U.S. alone, marking a pivotal factor fueling market growth. As coffee's health benefits come to light, the adherence to coffee as a lifestyle choice intensifies its demand.
Emerging Product Innovations and Market Players
Interestingly, the market is experiencing a wave of product innovation, with significant players like Nestlé and Lavazza introducing unique collections to captivate a diverse consumer base. These new product lines ensnare attention due to their innovative roast profiles and engagement with cultural narratives. Meanwhile, strategic acquisitions are also shaping the industry. For instance, Westrock Coffee's recent acquisition of Bixby Roasting Co showcases efforts to tap into newer consumer demographics while enhancing market presence.
Report Segmentation and Distribution Channels
- The report highlights the distinction between Arabica and Robusta coffee types, underlining their unique market positions and consumer preferences.
- Exploration of distribution channels reveals insights into B2B and B2C markets, indicating the prominence of convenience stores, foodservice providers, and online retail.
Anticipated Market Dynamics and Future Outlook
The in-depth analysis contained within the report provides a panoramic view of current market dynamics, with projections laying out a robust future for the industry. This extent of market research is essential for stakeholders aiming to understand and capitalize on the breadth of opportunities that the roasted coffee market presents.
A selection of companies mentioned in this report includes
- Nestlé S.A.
- Starbucks Coffee Company
- Luigi Lavazza SPA
- Peet's Coffee Inc.
- JDE Peet's
- Tchibo Coffee International
- Strauss Coffee BV
- Keurig Green Mountain Inc.
- Farmer Brothers Company
- Royal Cup Inc.
- J.M. Smucker Company
- Melitta Group
- Massimo Zanetti Beverage USA
- UCC Ueshima Coffee Co. Ltd.
- Tim Hortons Inc.
- Gloria Jean's Coffees
- Hawaiian Isles Kona Coffee Co.
- Kicking Horse Coffee Co. Ltd.
- La Colombe Coffee Roasters
- 85 °C Bakery Cafe
- Lifeboost Coffee
- Philz Coffee
- Tata Consumer Products
- Coffee Beanery
- Westrock Coffee Company LLC
- Três Corações Group
- Lavazza Professional
- Jacobs Douwe Egberts
- Dunkin' Brands Group Inc.
- Eight O'Clock Coffee Company
For more information about this report visit https://www.researchandmarkets.com/r/vjjaqb
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